Lead manager Credit Suisse First Boston sets off on roadshows this Friday with a $200 million five-year bond offering for the Republic's tenth largest company by market capitalization. Pricing of the BB3 rated deal is scheduled for mid-June with tentative expectations for a yield around the 10.5% to 11% mark.
This will place Indofood Sukses Makmur slightly above the current secondary market trading level of PT Medco Energi, which has a one-notch higher rating of B from Standard Poor's. As of yesterday's Asian close, Medco's $100 million March 2007 deal was bid at 10.5% to yield 610bp over Treasuries, while a recent April 2007 issue for BB3 rated PT Telkomsel was bid...
